Average diesel price falls 1.6 cents

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Diesel ChartThe national average retail diesel price fell for the fourth consecutive week, this week dropping 1.6 cents to $4.057 a gallon for the week ended Monday, May 7, according to the U.S. Department of Energy’s Energy Information Administration.

The average price is 4.7 cents below the same week in 2011 and is below last year’s price for the third consecutive week. Two weeks ago, prices were down year over year for the first time since November 2009.

Average prices fell in all regions. California saw a 1.1-cent decline, but its price remained the nation’s highest at $4.385 a gallon. The largest decline was 2.6 cents in both the West Coast (excluding California) and Central Atlantic. The nation’s cheapest diesel is in both the Midwest and Gulf Coast, where the average price is $3.962 in both regions.

Complete diesel price information is available on EIA’s Website.